trading halt update

ASX / MEDIA RELEASE 17 MARCH 2006 CROESUS MINING – TRADING HALT
Following the release of its interim financial results yesterday, Croesus Mining NL (ASX: CRS) today advised that the trading halt had been called to allow the Company to conduct a thorough review of gold production forecasts at its Norseman gold operations in Western Australia.
The Croesus Board is conducting a review of all aspects of the Company’s business, including its current hedge book structure, production forecasts and overall production planning moving forward which will also include a review of the requirement for capital.
Several alternative solutions are currently being reviewed and the Board considers it prudent to halt trading while this review is undertaken. This review should take some two weeks, at which time the Company will make a comprehensive announcement as to the current state and further direction of the group.
Croesus Chairman, Michael Kiernan, said further that the Norseman ore bodies are sound and the Company’s regional tenements highly prospective, however from a cost point of view the operation had simply gone off the rails even in this time of high gold prices.